Mission City Federal Credit Union Mortgage Rates, Fees & Info
Santa Clara, CALEI: 2549006VWQC6XCFQO747
Tax ID: 94-1512765
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Mortgage Data
Review & Overview
Mission City Federal Credit Union is a smaller credit union specializing in Cash Out Refi and Home Purchase loans. Mission City Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: San Jose, Boise City, San Francisco, Sacramento, and Madera among others. We have data for 6 markets. (Some data included below & more in-depth data is available with an active subscription.)Mission City Federal Credit Union has a below average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Mission City Federal Credit Union is typically an average fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.
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Originations
8Origination Dollar Volume (All Markets)
$2,950,000Top Markets
Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| SAN JOSE-SUNNYVALE-SANTA CLARA, CA (FHA|USDA|VA) | 3 | $1,405,000 | $468,333 | $6,786 | 4.08% |
| BOISE CITY, ID (FHA|USDA|VA) | 1 | $385,000 | $385,000 | $4,464 | 4.75% |
| San Francisco-Oakland-Berkeley, CA (FHA|USDA|VA) | 1 | $375,000 | $375,000 | $3,402 | 3.38% |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $4,079 | 3.38% |
| MADERA, CA (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $4,028 | 4.88% |
| MODESTO, CA (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $3,817 | 4.63% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 8 | $2,950,000 | $368,750 | $5,019 | 4.16% |
For 2018, Mission City Federal Credit Union's most frequently originated type of loan was Conventional, with 8 originations.
Loan Reason
For 2018, Mission City Federal Credit Union's most frequently cited loan purpose was Cash Out Refi, with 4 originations. The 2nd most popular reason was Home Purchase, with 3 originations.
Loan Duration/Length
For 2018, Mission City Federal Credit Union's most frequently cited loan duration was 30 Year, with 5 originations. The 2nd most popular length was 20 Year, with 2 originations.
Origination Fees/Closing Costs
| Origination Fee/Closing Cost | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 4 | $1,300,000 | $325,000 |
| $1k-2k | 1 | $375,000 | $375,000 |
| $2k-3k | 1 | $205,000 | $205,000 |
| $3k-4k | 1 | $215,000 | $215,000 |
| $5k+ | 1 | $855,000 | $855,000 |
Mission City Federal Credit Union's average total fees were $5,493, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 4 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 4-5% | 5 | $1,915,000 | $383,000 |
| 3-4% | 3 | $1,035,000 | $345,000 |
During 2018, Mission City Federal Credit Union's average interest rate for loans was 4.13%, while their most frequently originated rate bucket for loans was 4-5%, with 5 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $200k-400k | 7 | $2,095,000 | $299,286 | $4,012 | 4.14% |
| $600k-1MM | 1 | $855,000 | $855,000 | $12,066 | 4.25% |
2018 saw Mission City Federal Credit Union place emphasis on $200k-400k loans with 7 originations, totaling $2,095,000 in origination value.
Applicant Income
Mission City Federal Credit Union lent most frequently to those with incomes in the $150k-250k range, with 3 originations. The second most popular income band? $100k-150k, with 2 originations.
Applicant Debt to Income Ratio
Mission City Federal Credit Union lent most frequently to those with DTI ratios of 20-30%, with 3 originations. The next most common DTI ratio? 30-36%, with 2 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications58.33%
Mission City Federal Credit Union has a low approval rate. They may have poor market targeting or stringent lending standards.
Pick Rate
Approvals leading to origination37.50%
Mission City Federal Credit Union has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 8 | $2,950,000 | $368,750 |